A fully optimized product manager can increase the profit of a company by up to 34%. These guys know how to promote a product and capitalize on the offered services.
Despite such strong potential, most product managers are swamped with routine operational tasks. 52% of their time, they focus on “fire-fighting” activities instead of building a product strategy that would help a company conquer the market and engage more customers. It’s a massive loss for a company and a valid reason to invest in optimizing product management tasks.
Automated address verification is one of the ways to reduce unnecessary load on a product management team. A clean and standardized database facilitates market research, improves marketing communications accuracy, streamlines the recruitment process, and brings other benefits. Most importantly, it allows product managers to deal with strategic planning and delegate repetitive tasks to automation software.
Find out other reasons to validate customer addresses for better product management in our blog article about:
- Address verification for product managers: when they need to validate shipping addresses
- Five reasons to automatically validate customer addresses for product managers
- Inkit’s Verify as an easy way to validate shipping addresses
Address Verification for Product Managers: When Do They Need to Validate Shipping Addresses?
Although the number of product managers is growing, the responsibilities of this job remain vague. Some of them focus solely on market research, whereas others have to complete a range of additional tasks, including PDF invoice billing. Thus, before discussing why product managers need to validate addresses, let’s figure out in what cases they might need validation.
According to McKinsey’s recent research, 18% of their time product managers spend defining a product strategy. The next most time-consuming task is collaboration with technical and design teams (15%). Apart from that, product managers also define product requirements (14%), engage with customers and partners (12%), review metrics (8%), do recruiting (5%), etc.
Completing many of these tasks, product managers need to validate customer addresses or access the information from address databases. Validation services allow them to automatically use local and international addresses that have just been checked. For example, they can refer to address information to conduct market research and learn more about potential customers.
Automated address checks also help to enhance communication with customers and partners. Since the accuracy of delivery improves, messages are more likely to reach the target. Thus, the percentage of undelivered mail considerably decreases.
These are just a few cases when product managers should validate shipping addresses and postal codes. Find more reasons to validate customer addresses automatically below.
5 Reasons to Automatically Validate Customer Addresses for Product Managers
As a person largely responsible for a product’s market success, a product manager has a tremendous impact. They communicate with customers, interact with multiple teams, check PDF invoices for the provided services, and more. Thus, when product managers can automatically validate shipping addresses, this optimizes many core processes. Anything that benefits a product manager, benefits your company.
#1. Reason to validate shipping addresses. Market research
Market research is essential both to formulate product requirements and define a product strategy. After all, sales and conversions are the KPIs of any project. To study the target audience, product managers need to know as much data about potential customers as possible, including their physical location. Accurate and valid addresses are a reliable source of information that can help them create a customer persona. When you know where customers live, you can estimate their income, social status, age, interests, and other factors that impact purchase decisions.
#2. Reason to validate shipping addresses. Streamlined communications
Since product managers have to interact with multiple teams inside a company and track customer communications, they need to validate shipping addresses. When postal addresses are valid, documents always reach the target. Although a product manager’s tasks vary across companies, in some cases, they need to deliver PDF invoices and exchange other documents. That’s when address validation can help a lot.
#3. Reason to validate shipping addresses. Ultimate automation and integrations
When data is standardized and reliable, automation is much more comfortable. Product managers can integrate customer data with third-party tools to automate the team’s processes, such as messaging, billing, or analytics.
Product managers also need automated validation if they want to validate customer addresses in their products. For example, if a product manager works in a fintech startup, at some point, they will have to think about how to implement address validation functionality. An address validation API, like the one offered by Inkit, will be the best solution. By opting for the readily available integration, the product manager can speed up the development process and free the team from unnecessary tasks.
#4. Reason to validate shipping addresses. Enhanced marketing
Physical addresses are used both to study potential customers and deliver them offline communications. That’s how quality data can enhance your marketing efforts and help reach customers with more personalized offers. How are product managers related to marketing?
When a product company is small and doesn’t have marketers, product managers partially take on this role. They may participate in conferences, check online traffic, and communicate with customers. Even in big companies with marketing teams, product managers contribute to product promotion.
#5. Reason to validate shipping addresses. Compliance
As product managers often work with confidential customer data, they have to mind the terms and conditions of privacy regulations. It’s necessary to limit access to data, protect customer communications, record all the interactions with customers, and more. By helping product managers automate customer interactions and making them more accurate, address validation also contributes to regulatory compliance. Besides, software solutions that automatically validate customer addresses are built with data security laws in mind and often don’t require any additional procedures to stay compliant.
Inkit’s Verify as an Easy Way to Validate Shipping Addresses
Inkit Verify is one of the tools available in Inkit’s reach enablement platform. It allows product managers and other teams to validate shipping addresses automatically. You just need to connect the platform to your database or CRM, and everything will happen independently. Inkit Verify also provides address autocomplete functionality that instantly fixes postal addresses as users type them. This gives product managers using Inkit quality address data to rely on.
Inkit Verify is available together with Render, Send, and Connect tools. Inkit Render is a popular solution for creating invoices. It automatically fills out a blank invoice form with personalized customer data, including total amount, contact information, and street address, to generate PDF invoices. Apart from PDF invoice templates, Inkit Render is also commonly used to generate bills, notices, official communications, and other documents.
Once Inkit Render generates PDF invoices, Inkit Send can forward them to the delivery point. It supports email or print delivery and always reaches the target thanks to preliminary address verification. To involve additional channels of communication or supercharge the Inkit’s toolkit capabilities, you can use Inkit Connect. It will enable you to smoothly integrate Inkit with third-party tools of different kinds.
Want to test Inkit for your product management team? Contact us for the demo.